Congress Needs to Address U.S. Housing Affordability Issues, Says NAHB

WORLD PROPERTY JOURNAL | June 04, 2019

Congress Needs to Address U.S. Housing Affordability Issues, Says NAHB
As the National Association of Home Builders celebrate National Homeownership Month in June 2019, U.S. home builders are urging Congress to address America's housing affordability challenges. "Removing regulatory barriers that contribute to the increased costs of housing will pave the way to homeownership," said National Association of Home Builders (NAHB) Chairman Greg Ugalde, a builder and developer from Torrington, Conn. "Home builders and the residential construction community are committed to working with Congress to ensure homeownership is within reach of hard working families." Rising costs from excessive regulation, a shortage of construction workers, tariffs on $10 billion worth of building materials, and housing finance concerns have detrimental effects on housing affordability. NAHB analysis shows that regulatory requirements alone account for 25 percent of the price of a single-family home, and 30 percent of the cost of a multifamily development.

Spotlight

The UK economy saw robust growth of 2.6% in 2014, around the long-term trend rate. However, the real story of the year was the incredibly strong labour market, with 608,000 more people in work than at the end of 2013. Unemployment also tumbled from 7.2% to 5.7%, despite strong population growth.

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Spotlight

The UK economy saw robust growth of 2.6% in 2014, around the long-term trend rate. However, the real story of the year was the incredibly strong labour market, with 608,000 more people in work than at the end of 2013. Unemployment also tumbled from 7.2% to 5.7%, despite strong population growth.